If you are graduating, on a leave of absence or enrolled less than half-time, federal regulations and university policy require you to complete Exit Loan Counseling.

All Title IV HEA Federal Student Loans will be reported to the National Student Loan Data System (NSLDS) and will be accessible by guarantee agencies, lenders and schools determined to be authorized users.

To review your financial aid history and to better understand your federal student loan indebtedness, log in to www.nslds.ed.gov You will need your name, date of birth, Social Security number and FAFSA PIN to access your confidential record.

If you have borrowed from one or more of the non-federal private financing programs, more information about those loans can be obtained from your lender or on your credit report at: www.annualcreditreport.com

Federal Perkins Loans are available only to students in certain programs of study or who may have received a Perkins Loan in the prior academic year.

Qualification

To receive this loan, you must:

  • Apply for financial aid and demonstrate eligibility.
    (The Federal Perkins Loan will be listed on your Financial Aid Summary if you are eligible.);
  • Be enrolled for the number of units indicated on your Financial Aid Summary;
  • Submit all required documents to the Financial Aid Office; and
  • Maintain Satisfactory Academic Progress.

general information

  • The interest rate is fixed at 5 percent.
  • The ten-year repayment period begins nine (9) months after graduation or when you drop below half-time enrollment.

receiving your loan

  • You must authorize the University of Southern California to credit the funds to your student account by signing a Master Promissory Note (MPN) online. The University has partnered with ECSI for this purpose.
  • You will receive an e-mail (at your official USC address) with instructions on how to accept and sign for these loans electronically. You will need your FAFSA PIN to complete the process.
  • For more information, visit the Student Financial Services website.
  • If you choose not to borrow additional Perkins Loan funds in subsequent years, please inform the Financial Aid Office in writing and your award will be canceled.
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